This paper is a development of a talk given by the author at a conference in November 2000, entitled, ‘How will T&C affect senior management? They, in particular, need to comply’. It examines and comments upon the introduction of and the interaction between the new ‘Training &...

As banks across Europe try to prepare for the introduction of international accounting standards in 2005, controversy over the rules continues to rage. The author traces the history of this process and shows where the problems for the global banking industry really lie.